GCC: Electricity Supply Meter Market 2024

Electricity Supply Meter Market Size in GCC

The GCC electricity supply meter market stood at $X in 2023, rising by X% against the previous year. In general, consumption, however, saw a strong expansion. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Electricity Supply Meter Production in GCC

In value terms, electricity supply meter production expanded remarkably to $X in 2023 estimated in export price. In general, production posted a resilient expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Electricity Supply Meter Exports

Exports in GCC

Electricity supply meter exports expanded markedly to X units in 2023, increasing by X% against the previous year. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, electricity supply meter exports dropped sharply to $X in 2023. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of export peaked at $X in 2022, and then contracted markedly in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X units, which was approx. X% of total exports in 2023. It was distantly followed by Saudi Arabia (X units), creating an X% share of total exports. Bahrain (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Bahrain (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest electricity supply meter supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, with a decrease of X% against the previous year. In general, the export price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2022, and then dropped sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Electricity Supply Meter Imports

Imports in GCC

In 2023, after three years of growth, there was significant decline in supplies from abroad of electricity supply or production meters, when their volume decreased by X% to X units. Over the period under review, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2022, and then dropped significantly in the following year.

In value terms, electricity supply meter imports expanded rapidly to $X in 2023. Overall, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, the United Arab Emirates (X units) represented the largest importer of electricity supply or production meters, committing X% of total imports. Oman (X units) held the second position in the ranking, distantly followed by Qatar (X units) and Bahrain (X units). All these countries together took approx. X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electricity supply meter importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Qatar ($X), with a combined X% share of total imports. These countries were followed by Bahrain, which accounted for a further X%.

In terms of the main importing countries, Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the import price enjoyed noticeable growth. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2021 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform